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Panay is located southeast of the island of Mindoro and northwest of Negros, separated by Guimaras Strait . Between Negros and Panay lies the island-province of Guimaras. To the north is Sibuyan Sea and the islands of Romblon; to the southwest is the Sulu SeaThe Sulu Sea is a large sea in the southwestern area of the Philippines. It is separated from the South China Sea in the northeast by Palawan, and from the Celebes Sea in the southeast by the Sulu Archipelago. Borneo is found to the southwest and Visayas.

Panay is the location of the famous legend of Maragtas , which chronicled the arrival of the MalayThe Malays are the dominant race which live in Malaysia, Indonesia, Brunei and the Philippines which, together with Singapore, make up what is called the Malay archipelago. The Malays are traditionally classified as a member of the Mongoloid race, along w race to the Philippine islands.

The island lent its name to several United States NavyThe United States Navy USN is the branch of the United States armed forces responsible for naval operations. Navy consists of slightly fewer than 300 ships and over 4,000 operational aircraft. It has over a half million men and women on active or ready re vessels named USS PanayThree vessels of the United States Navy have been named USS Panay after the Philippine island of Panay. The first Panay was originally a Spanish gunboat in the Philippines, purchased in 1899 after the American occupation, and in various service until 1914, mostly famously the one sunk in 1937Events January January 1 Anastasio Somoza becomes President of Nicaragua January 11 The first issue of Look magazine goes on sale in the United States. January 19 Howard Hughes sets a new air record by flying from Los Angeles to New York City in 7 hours, by the Japanese in the Panay incidentThe Panay incident was a Japanese attack on the USS Panay a US Navy gunboat anchored in the Yangtze river outside of Nanjing on December 12, 1937, before the United States had entered World War II. The Japanese claimed that they did not see the US flags p.